All posts tagged: economy

Meet the Woman Who Terrifies Wall Street Bankers

Anat Admati (@anatadmati) is the George G.C. Parker Professor of Finance and Economics at the Graduate School of Business, Stanford University. She has written extensively on information dissemination in financial markets, trading mechanisms, portfolio management, financial contracting, and, most recently, on corporate governance and banking. Since 2010, she has been active in the policy debate on financial regulation, particularly capital regulation, writing research and policy papers and commentary. She is a coauthor of the book, The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It. Professor Admati received her BS from the Hebrew University in Jerusalem and her MA, MPhil and PhD from Yale University. She is the recipient of a Sloan Research Fellowship, a Batterymarch Fellowship, and multiple research grants. She is a fellow of the Econometric Society, and has served as a board member of the American Finance Association and on multiple editorial boards. She also serves on the FDIC Systemic Resolution Advisory Committee.

Dr Alan Gin

Dr Gin’s Economic Outlook for San Diego, and a Packed Agenda at May 2013 Meeting

Here’s a writeup of the May 2013 meeting, and it’s not the only one. Recently renewed member Judi Curry has a great writeup on the OB Rag. Dr Alan Gin provided a comprehensive overview of the national and local economic outlook. (Download Dr Gin’s Point Loma DC presentation slides.) San Diego lost over 70,000 jobs in the recent downturn, with construction hit particularly hard. The last 12 months has seen 30,000 new jobs created and we’re on track to add a similar number this year, but many of these jobs are low-paid. Six of the ten main categories of jobs in the region have salaries of around $20,000 per year! The most telling chart showed that although productivity of workers has increased steadily over the last 10 years this has not led to an increase in wages for the 99%, but profits have gone to tremendous growth of income for the top 1%. Ryan Trabuco, President of the Clairemont Town Council, introduced himself (more details here) and thanked the club for recently welcoming him to the …

Currency Wars and Decline of the U.S. Economy

Rather than building a strong industrial base that would provide economic security for a vibrant middle class, the United States instead continues to engage in currency wars that reduce the value of the dollar. While EU countries, such as Germany, promote the growth of high tech, high value manufacturing exports and the Euro gains in strength, the U.S. continues to outsource jobs, shrink the manufacturing sector and print money to devalue the dollar against other world currencies. The U.S. dollar continues to decline against the value of the Euro and is at a 15 year low against the yen and is even sliding against the Australian dollar. In past decades American companies sought to import raw materials from third world countries with depressed currencies to fuel the U.S. industrial economy. With the outsourcing of labor and the dismantling of America’s industrial base the United States has been transformed from the world’s greatest exporter to the largest importer of foreign goods. However, with a burgeoning trade deficit the response has not been to manufacture quality products …

Ask Bilbray to do the Right Thing

Can you ask Brian Bilbray to do the right thing for San Diegans before he leaves office? Please call his office (202) 224-3121 and ask him to support the Senate passed bill that extends the middle class tax cuts. His office is not recording names, but is recording responses. Bilbray has not stated how he will vote. He knows that sequestration will be bad for jobs in San Diego. He also knows that increasing tax revenues from those who can afford to pay will lower the deficit. He gets to vote for this in the last few days of his tenure and before congress leaves for the holidays. It’s all part of the fiscal cliff emergency, of course.